Often a large-scale real estate investment that includes land and building structures intended to generate revenue from either capital gains or rental income, commercial buildings need to be thoroughly inspected by a professional. Known as a property inspector, this type of expert will examine the condition of a commercial property to identify any issues that require attention. A comprehensive property inspection can save potential investors time, money and frustration by highlighting the areas of the property that need immediate attention.
Unlike a residential inspection that typically takes place when someone is looking to sell their home, a commercial building inspection is more likely to be conducted when a business is ready to invest in new property. This is because buying a commercial property requires a lot more consideration than purchasing a home, and there are often serious issues that can go overlooked at first glance. Issues like structural problems, appliances that are on the verge of malfunctioning, and even violations of local building codes can dramatically lower the property’s value.
A trained and certified commercial building inspector will perform a comprehensive evaluation of the property before the investment is made, and the results will be provided in the form of a report. The report will detail the specific areas of the property that were inspected, including any recommendations for repair or renovations and an estimated cost estimate for those services. In addition, the report will include information about any third-party reports that were ordered as part of the property inspection.
The building structure will be the primary focus of a commercial property inspection, and the inspector will look for signs of damage or deterioration to the exterior and its components. This will include examining the exterior surfaces of the property, such as walls and paved areas, as well as assessing doors, windows, and other entrances to the building. In addition, the interior of the building will be inspected for safety-related hazards and to ensure that it adheres to local building code requirements. This will include checking bathrooms, kitchen spaces, offices, and other similar areas of the property.
Most commercial buildings are outfitted with five core systems, and the inspector will make sure that these are in good working order. These systems include electrical, heating and ventilation, plumbing, and air conditioning. The inspector will also check any fire safety or alarm systems that are present. Depending on the nature of a business, there may be additional systems that need to be checked.